Customer Lifetime Value (CLTV)

How much is a customer worth over their entire relationship with your business?

Customer Lifetime Value (CLTV) is a prediction of the total revenue a business can expect from a single customer account throughout their relationship. This metric helps businesses understand the long-term value of their customer base and make informed decisions about marketing spend and customer retention strategies.

Maximizing CLTV ensures that you get the most out of your customer relationships.

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Net Promoter Score (NPS)

Can a single question measure customer loyalty?

Net Promoter Score (NPS) is a metric used to gauge customer loyalty and satisfaction by asking customers how likely they are to recommend your company to others on a scale from 0 to 10. Customers are categorized as Promoters, Passives, or Detractors based on their responses.

A high NPS indicates strong customer loyalty and can drive organic growth.

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Shadow IT

Can unauthorized tools pose risks and benefits?

Shadow IT refers to the use of information technology systems, devices, software, applications, and services without explicit IT department approval. While shadow IT can enhance productivity and innovation, it also poses risks related to security, compliance, and management.

Balancing the benefits and risks of shadow IT can lead to improved productivity while maintaining security.

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Economies of Scope

Can diversifying products lower costs?

Economies of Scope refer to the cost advantages that businesses achieve by diversifying their product lines. By producing a variety of products, companies can share resources and reduce overall costs, leading to increased efficiency and profitability.

Leveraging economies of scope allows businesses to offer a wider range of products at lower costs.

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Freemium to Premium

Can free users become paying customers?

Freemium to Premium is a business model where a company offers a basic product or service for free, while advanced features or additional content are available for a premium fee. This model attracts a large user base and converts a portion of free users into paying customers.

This strategy allows businesses to scale quickly while generating revenue from premium offerings.

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